The European Commission is soliciting public input on changes to its Markets in Crypto Assets Regulation, the sweeping rulebook that took effect in December 2023. The consultation closes in September, marking the formal start of what industry players call "MiCA 2.0."
MiCA was the world's first comprehensive crypto regulatory framework, setting rules for crypto service providers, stablecoin issuers, and custodians across the EU. It created licensing requirements, market abuse standards, and consumer protections that regulators in other jurisdictions have since used as a template.
Three years in, the Commission is reopening the framework for refinement. The consultation invites feedback on how MiCA's requirements are working in practice, where they need tightening, and which gaps have emerged since implementation. No specific amendments have been circulated yet, so the scope of the review remains open.
The timing matters. Any major revisions would likely take years to legislate and come into force. A September deadline gives the Commission until late 2026 to digest responses before drafting formal proposals.
For firms operating under MiCA, the consultation is a chance to flag unintended frictions or compliance costs they've hit. For regulators, it signals an appetite to learn from three years of real-world enforcement and incident response. For policymakers in other regions watching Europe, the review will test whether MiCA's design holds or needs material rework.
The public comment period is open now through the Commission's official channels. Crypto industry groups, exchanges, custody providers, and stablecoin issuers are expected to submit detailed feedback on their experience with the current rules.